were to you know united states is very strong and they actually start to use the dollar as the world reserve and it was backed by gold until seventy one as we'll do it right so backed by gold and that was seven seventy one and now we enter a period of currencies referring to other fiar currencies what i call infinite regress or one turtle standing on another turtle turtles all the way down people sometimes make that that joke about what holds up the world infinite regress now had we gone to the bank or with keynes after world war two what would the world be like today in your view because is it was it just going to go to a purely fiat's system right after world war two or was we missed during the interim so actually quoted as saying that that we will live to regret the. choice and his main argument is that you should not use a specific nation currency as the world international reserve currency because that would give an unfair advantage to the east sure of that currency and i think he was right and if we wouldn't take that route then we would have a much more balanced international reserve

venezuela holds one of the world's largest oil reserves, but production is in freefall. the home to the country's largest refinery looks more like a ghost town than a bustling oil hub. the state owned oil company is on the verge of bankruptcy. its creditors have even threatened to seize its overseas assets. years ago, all those chimneys were spewing smoke and vapor 24 hours a d.. now, there is nothihing, because we are not refining any oil. the refinery is paralyzed. national oil production has fallen by 50% over the past 10 years. for somome, the drop in prprodun signals the e failure of h hugo ,havez's socialist experiment which lead to disasastrous managegement of thee statete-run firm. its it's employees explain how the seeds of failure were sown. >> ideology comes first. all of the chosen bosses were close to the ruling party and did not know anything about oil. chavez, it does not matter if you are a good technician. what matters is that you know everything about communism, che guevara. the sharp decline in oil prices in 2014 added fuel to the fire. state oil of th

government right now has the world's reserve currency the us dollar it cannot possibly default on your bond so they could print money italy cannot print euros and yet people are paying ten times more the u.s. government has to pay ten times more than italy does to borrow. they're showing that their pay a central bank will continue to buy these bankrupt chalion bonds you know in a world where the pentagon recently announced they lost twenty trillion dollars and they can't find it you know that say they're showing you for for example that the u.s. can print money they could blow up twenty trillion dollars and nobody it doesn't matter italy if they blow up ten billion euro is the chaos ensues across europe right ok so you have twenty trillion dollars gone missing in the pentagon and there's no accounting standard whatsoever and italy that's a subset of the size of the italian economy the total g.d.p. of italy is considerably smaller than twenty trillion dollars and so you have obviously robots that are buying these bonds without any sound economic reason to do so so this is part of the bo

world's. oil reserves but production is an easy from fall. to to know. large largest wind rider looks more like a ghost town of those bikes will help. state state oil company dsa. see. credit writers haven'tt evend it's okay as assets. when i when i. was a religion. the twenty four hour day. now there's nothing because we're not going to find any other oil. refineries. a lot of dignity. nash nash oil halalloween by fifty percent to the highest here years. for some the dropped off the drug charges.. socialal experimentt. which which led to the disaster in the. this december. it's and it's so easy way around the house easily. and i don't have any idea. little shohows on. and you know i know anything about oil distancing who. it doesn't matter if you're doing a commission. so. the sharks are. fire fire. one the parent ae venezuela is now right. oil. and many many citizens of. the world world largest oil reserves are. fighting for dying from starvation. meanwhile you any less than nine nine and headed. straight rock classical wit. a label health office has t

government right now has the world's reserve currency the us dollar it cannot possibly default on your bond so they could print money italy cannot print euros and yet people are paying ten times more the u.s. government has to pay ten times more than italy does to borrow. they're showing that their pay is such a bank will continue to buy these bankrupt chalion bonds you know in a world where the pentagon recently announced they lost twenty trillion dollars and they can't find it you know that's a that's showing you for for example that the u.s. can print money they could blow up twenty trillion dollars and nobody it doesn't matter italy if they blow up ten billion euro is the chaos ensues across europe right ok so you have twenty trillion dollars gone missing in the pentagon and there's no accounting standard whatsoever and italy that's a subset of the size of the italian economy the total g.d.p. of italy is considerably smaller than twenty trillion dollars and so you have obviously robots that are buying these bonds without any sound economic reason to do so so this is part of the bou

four to five trillion dollars in reserves more than a trillion or so in dollars the dollar still world reserve currency so yeah they've got a lot of operating leverage on the ground but a macro economically speaking the u.s. federal reserve bank bank of new york still has the ability to crush them at a moment's notice if we so choose their basically their equally powered the world's largest debtor the world's largest creditor they are equally powered they're equally powerful and that is a great huge fight that is the fight of the next few decades what is not a great power which is no longer a great power is the united kingdom versus germany fighting the euro european union versus trying to come up with the brakes a deal i have to headlines here this is from bloomberg and they often to this i actually printed another article but they change the headline at all the time but boris johnson warns may to get on with it and deliver brags that so he's warning that she has to get on with it he wants to become the new prime minister which probably makes more sense of a clown and charge like trees amaze

the federal reserve they can print money all day long and they control the dollar which is the world reserve currency. so is this match up who wins in this match up down well absolutely i think the last hand the united states had to play is the. federal reserve the u.s. dollar with the china of those taking them apart the swiss system built off the from the united states now the united states is even weaponized the swiss system against russia and the other country that's going away russia china are building their own swiss system the you know we talked about five years ago max are way ahead of the curve of the petro you in i mean i've said years ago we're talking about the china movie no oil in to remain be the next phases the remain b. to become a global currency that's what they're moving fast on that trying to move all the oil the shanghai futures oil futures exchange open you know late last year so as we see more oil contracts go into renminbi remain be international trade get settled more and more in order to be really be will eventually challenge the dollar so to toe and then all of a

the federal reserve they can print money all day long and they control the dollar which is the world reserve currency. so is this match up who wins in this match up down well absolutely i think the last hand the united states had to play is the. federal reserve the u.s. dollar with the china though taking that apart the swiss system built off the from the united states now the united states is even weaponized the swiss system against russia and the other countries that's going away russia china are building their own swiss system the you know we talked about five years ago max are way ahead of the curve of the petro union i mean i've said years ago we're talking about the china moving toil in to remain be the next phases the remain b. to become a global currency that's what they're moving fast on that trying to move all the oil the shanghai futures oil futures exchange opened you know late last year so as we see more oil contracts go into renminbi remain be international trade gets settled more and more in order to be really be will eventually challenge the dollar go to toe and then all of a

we've expanded beyond our ability to sustain ourselves and the moment the dollar is no longer the world's reserve currency which happened to the pound sterling in the fifty's you will see a huge economic country. action and the all of the ingredients are there and we can't we must also acknowledge this is a deeply violent society you see it every other day in this country we have school shootings i mean this is just the insanity of it i'm very bleak and very pessimistic i you know i certainly have been arrested blocking the doors of goldman sachs during the occupy movement and in washington and i take part in all of this stuff you can use the word hope unless you resist on the other hand i think we have to make a very sober assessment of what we're facing i was at standing rock with the water protectors and they were you know firing rubber bullets into nonviolent demonstrators hundreds of arrests firing water cannons laced with pepper spray unleashing attack dogs and if you don't trust heads is this stuff people come directly to the regional calling him to the ministry because he wanted to push t

government right now has the world's reserve currency the us dollar it cannot possibly the fault on your bond so they could print money italy cannot print euros and yet people are paying ten times more the u.s. government has to pay ten times more than italy does to borrow. they're showing that their pay is such a bank will continue to buy these bankrupt chalion bonds you know in a world where the pentagon recently announced they lost twenty trillion dollars and they can't find it you know that say they're showing you for for example that the u.s. can print money they could blow up twenty trillion dollars and nobody it doesn't matter italy if they blow up ten billion euro is the chaos ensues across europe right ok so you have twenty trillion dollars gone missing in the pentagon and there's no accounting standard whatsoever and italy that's a subset of the size of the italian economy the total g.d.p. of italy is considerably smaller than twenty trillion dollars and so you have obviously robots that are buying these bonds without any sound economic reason to do so so this is part of the bo

we've expanded beyond our ability to sustain ourselves and the moment the dollar is no longer the world's reserve currency which happened to the pound sterling in the fifty's you will see a huge economic country. action and the all of the ingredients are there and we can't we must also acknowledge this is a deeply violent society you see it every other day in this country we have school shootings i mean this is just the insanity of it i'm very bleak and very pessimistic i you know i certainly have been arrested blocking the doors of goldman sachs during the occupy movement and in washington and i take part in all of this stuff you can use the word hope unless you resist on the other hand i think we have to make a very sober assessment of what her face and i was at standing rock with the water protectors and they were you know firing rubber bullets into nonviolent demonstrators hundreds of arrests firing water cannons laced with pepper spray unleashing attack dogs and if you don't trust heads is this stuff people come directly to the original calling him to the ministry because he wanted to push t

government right now has the world's reserve currency the us dollar it cannot possibly default on your bond so they could print money italy cannot print euros and yet people are paying ten times more the u.s. government has to pay ten times more than italy does to borrow. they're showing that their pay is such a bank will continue to buy these bankrupt chalion bonds you know in a world where the pentagon recently announced they lost twenty trillion dollars and they can't find it you know that say they're showing you for for example that the u.s. can print money they could blow up twenty trillion dollars and nobody it doesn't matter italy if they blow up ten billion euro is the chaos ensues across europe right ok so you have twenty trillion dollars gone missing in the pentagon and there's no accounting standard whatsoever and italy that's a subset of the size of the italian economy the total g.d.p. of italy is considerably smaller than twenty trillion dollars and so you have obviously robots that are buying these bonds without any sound economic reason to do so so this is part of the bo

four to five trillion dollars in reserves more than a trillion or so in dollars the dollar still world reserve currency so yeah they've got a lot of operating leverage on the ground but a macro economically speaking the u.s. federal reserve bank bank of new york still has the ability to crush them at a moment's notice if we so choose their basically their equally powered the world's largest debtor the world's largest creditor they are equally powered they're equally powerful and that is a great huge fight that is the fight of the next few decades what is not a great power which is no longer a great power is the united kingdom versus germany fighting the euro european union versus trying to come up with the brakes a deal i have to headlines here this is from bloomberg and they often to this i actually printed another article but they change the headline at all the time but boris johnson warns may to get on with it and deliver brags that so he's warning that she has to get on with it he wants to become the new prime minister which probably makes more sense of a clown and charge like treece amaze

four to five trillion dollars in reserves more than a trillion or so in dollars the dollar still world reserve currency so yeah they've got a lot of operating leverage on the ground but a macro economically speaking the u.s. federal reserve bank bank of new york still has the ability to crush them at a moment's notice if we so choose their basically their equally powered the world's largest debtor the world's largest creditor they are equally powered they're equally powerful and that is a great huge fight that is the fight of the next few decades what is not a great power which is no longer a great power is the united kingdom versus germany fighting the euro european union versus trying to come up with the brakes a deal i have to headlines here this is from bloomberg and they often to this i actually printed another article but they change the headline at all the time but boris johnson warns may to get on with it and deliver brags that so he's warning that she has to get on with it he wants to become the new prime minister which probably makes more sense of a clown and charge like theresa may

four to five trillion dollars in reserves more than a trillion or so in dollars the dollar still world reserve currency so yeah they've got a lot of operating leverage on the ground but a macro economically speaking the u.s. federal reserve bank bank of new york still has the ability to crush them at a moment's notice if we so choose their basically their equally powered the world's largest debtor the world's largest creditor they are equally powered they're equally powerful and that is a great huge fight that is to fight the next few decades what is not a great power which is no longer a great power is the united kingdom versus germany fighting the euro european union versus trying to come up with the brakes a deal i have to headlines here this is from bloomberg and they often to this i actually printed another article but they change the headline at all the time but boris johnson warns may to get on with it and deliver brags that so he's warning that she has to get on with it he wants to become the new prime minister which probably makes more sense of a clown and charge like trees amaze us i

right so multi-polar world or heading into a us dollar loses their status as world reserve currency the rise of asia and other blocs so there's a good place to cut off air we're going to go for other silent and but thanks for being on this episode of the kaiser report michael kroger of liberty blitzkrieg dot com sounds great all right well that's going to do it for this edition of the kaiser report with me max geyser and stay say the one and only herbert i want to thank michael kroger from liberty blitzkrieg dot com if you want to catch us on twitter as kaiser report but i must say goodbye so i'll say goodbye goodbye. the new global economic war is unfolding in the realm of education the right to education being supplanted by the right to. education low its high education is becoming just another product that can be bullshit and sold but it's not just about education anymore it's also about running a business and what you good. luck with these souls. they couldn't. want is the place of students in this business model before college i was born now and i'm extremely more higher education

we've expanded beyond our ability to sustain ourselves and the moment the dollar is no longer the world's reserve currency which happened to the pound sterling in the fifty's you will see a huge economic contraction and the all of the ingredients are there and we can't we must also acknowledge this is a deeply violent society you see it every other day in this country we have school shootings i mean this is just the insanity of it i'm very bleak and very pessimistic i. no i certainly have been arrested blocking the doors of goldman sachs during the occupy movement and in washington and i take part in all of this stuff you can use the word hope unless you resist on the other hand i think we have to make a very sober assessment of what we're facing i was at standing rock with the water protectors and they were you know firing rubber bullets into nonviolent demonstrators hundreds of arrests firing water cannons laced with pepper spray unleashing attack dogs and if you don't trust heads is this stuff people come by because of original calling him to the minister because he wanted to push through a cl

right so multi-polar world or heading into a us dollar loses their status as world reserve currency the rise of asia and other blocs so this is a good place to cut off air we're going to go for other silent and but thanks for being on this episode of the kaiser report michael kroger of liberty blitzkrieg dot com sounds great all right well that's going to do it for this edition of the kaiser report with me max geyser and stay say the one and only herbert i want to thank michael kramer from the liberty blitzkrieg dot com if you want to catch us on twitter as kaiser report but i must say goodbye so i'll say goodbye goodbye. place. for more than thirty years peter's sick soul from austria has been searching for information about soviets who fell in austria cheering world war two. his work is important because the false vacation of world war two history has reached unprecedentedly high levels some pages of being rewritten while others are simply being deleted. it.

but they want the world's reserve currency. they want to be where america is now. >> absolutely. that's why president trump's national security and defense policy shows the united states is seeking strategic superiority. this will be a long race. china has been running it much faster and longer than the united states has. we won't solve it with this one economic trip we have now. >> we may not solve it with this particular trip. but what was interesting about the stock market and the reversal. it is led by boeing. for beauing to take off the way that it did today suggests to me that maybe some smart money thinks something will get done. >> planes have been threatened as part of the tariff package if the u.s. launches tariffs on chinese-made goods. then china will put tariffs on u.s. made goods that includes planes. caterpillar, nike, starbucks is building a storer 15 hours in china. if we have a protracted trade war, there are u.s. company tox that could be hurt. charles: tim cook keeps trying to play diplomat. he's in an interesting position. apple manufactures a lot their produ

they want to be what america is right now including eventually the world's reserve currency. unt of pressure on him to be a better actor, to hadley's point, as the world watches this meeting. >> yes, there is. but i think what you're seeing here is in a lot of ways this is multifaceted. i think china is nervous by president trump's behavior, and it's not just on the economy, it's on north korea. they sort of see him make big statements, and then they get worried that he's actually going to follow through. he often does. but as our panelists are saying here, he's bringing it back in. he's making that big offer. he's saying, hey, like he's threatening on tariffs for one, and china's like i'd rather sit at the table with you and solve in the man to man than have to worry about tariffs being imposed on our country. charles: right. next week is going to be huge. thank you all very much. >>> president trump and vice president pence are in indiana preparing to speak to a crowd at elkhart. we're going to take you there and preview what they might be chatting abouting next. ♪ it's time

sanctions, the nature of the international financial system, and the fact that the dollar is the world's biggest reservet's very hard for me to see this deal really surviving without united states participation. european countries and governments may say they'll stay in, but i don't think they'll be able to force their companies and banks to do business with iran. so i'm very, very concerned about what will happen tomorrow. there must be a risk that this just strengthens the more hawkish factions in the iranian leadership. how do you think iran will respond? well, i think they'll be cautious initially. i think they'll wait and see if the europeans can find mechanisms to make it worthwhile to stay in the agreement. whether the europeans can create some sort of financial institution that will be walled off from the american financial system, that would just do business with iran. whether european countries will continue to import oilfrom iran, whether the french company total, which has made the biggest investment in iran so far, whether it will stick with this investment in a gasfield in iran, or whether

let's go to a country now on another continent but with similar problems venezuela as the world's largest oil reserves but its people are starving three quarters of all citizens yet seventy five percent do not have enough to eat despite that president nicolas maduro is all but sure to win sunday's elections he stamped out opposition protests wrong critics and prison elections have been condemned as democratic by the united states about a dozen latin american countries and by the european union. now all that has not discouraged one of president maduro most high profile supporters of the argentinian football legend diego maradona made a surprise appearance on stage waving a venezuelan flag at the doors closing campaign event in tok us mar don it is known for supporting leftist alterations in the front of the duros predecessor it's. all marathoners backed by millions of venezuelans why i'm joined now by did have used carolina jim oid to shed some light on that good morning carol ina you know when we look at venezuela crippling hyperinflation why i'd spent spread hunger riots in prisons you know how could

afford basic goods power and water have become luxuries for many in the country with the world's largest known oil reserves spiraling poverty hopelessness and anger at nicolas maduro as government have led to a social implosion protests and file and crackdowns have marked his tenure but as mature oh tightens the screws on dissent his government has a silver bullet for the moribund economy the crypto currency the petro it's meant as a workaround for the lack of foreign currency but critics call it a scam but that petro success would depend on good faith in the government backing it years of mismanagement and corruption have meant very little of that has been created leading figures wayland's to see little chance of an end to their ordeal. as an irish low cost airline ryanair op after released its full year results of twenty seventeen spurred by an increase in passengers that profit soars to about one point four five billion euros up ten percent compared to the year before that strong performance comes despite a difficult twelve months for ryanair cancellation of thousands of flights to two rostrum problems

power and water have become luxuries for many in the country with the world's largest known oil reserves. spiraling poverty hopelessness and anger at nicholas meant to rose government have led to a social implosion protests and file and crackdowns have marked his tenure but as my duro tightens the screws on dissent his government has a silver bullet for the moribund economy to cryptocurrency the petro it's meant as a workaround for the lack of foreign currency but critics call it a scam. but that petro success would depend on good faith in the government backing it years of mismanagement and corruption have meant very little of that has been created leading venezuelans to see little chance of an end to their ordeal. well so what now for when is the question to discuss them on a silver affair of the institute of latin american studies you have the feeling of berlin. how much more will do or when as well it. it's really difficult to to answer believe it or not it can be wars so look at afghanistan iraq today so maybe. we don't know how long can other wrist a in charge of the government may

afford basic goods power and water have become luxuries for many in the country with the world's largest known oil reserves spiraling poverty hopelessness and anger at nicolas maduro as government have led to a social implosion protests and file and crackdowns have marked his tenure but as mature oh tightens the screws on dissent his government has a silver bullet for the moribund economy the crypto currency the petro it's meant as a workaround for the lack of foreign currency but critics call it a scam but that petro success would depend on good faith in the government backing it years of mismanagement and corruption have meant very little of that has been created leading figures wayland's to see little chance of an end to their ordeal. black forest is a droll cot for tourists but try getting skilled workers out to this rule part of the country well the company famous for inventing the wall plug fisher is located here and it's trying out new ways to attract and retain stuff by promoting healthy food and a healthy lifestyle we said have reported their. time for a morning workout economist sarah was using f

afford basic goods power and water have become luxuries for many in the country with the world's largest known oil reserves spiraling poverty hopelessness and anger at nicolas maduro as government have led to a social implosion protests and file and crackdowns have marked his ten year. but as my duro tightens the screws on dissent his government has a silver bullet for the moribund economy to cryptocurrency the petro it's meant as a workaround for the lack of foreign currency but critics call it a scam but the petro success would depend on good faith in the government backing it years of mismanagement and corruption have meant very little of that has been created leading figures wayland's to see little chance of an end to their ordeal. so black forest is a droll cot for tourists but try getting skilled workers out to this rule part of the country well the company famous for inventing the wall plug fisher is located here and it's trying out new ways to attract and retain stuff by promoting healthy food and a healthy lifestyle he said have reported their. time for a morning workout economist sara was using f

the world bank the overall federal reserve banking system let's call it of debt based economics was being imposed on their world countries all through the cold war and then it struck me when the this whole great recession started in two thousand well eight nine time period that we were looking at the same policies that have been implemented against their will countries being brought home to roost essentially what you saw were people who basically had you know they'd been you know out they'd been out with these mortgages that they couldn't they were sustainable they had basically over leverage they had way too much debt and all the sudden it collapsed they lost their homes they put the many people and up losing money wealth but also put themselves in a much more debt slavery as we saw with you know everything from education schooling right. to the cold you know school loans to you know health care you name it all this just piling on the american people so to your analysis was this recession very much that same perkins policy that the news the broad being brought home to the american people

china is the only country in the world that has a pork. we have an oil reserve.

roger propaganda in britain nicolo my dura wins again in venezuela a nation with the world's largest known reserves of oil and gas one now and was it fair we speak to an election monitor joseph hour along the border of the u.k. center for investigative journalism and an associates of wiki leaks and the head of this week's un report on fracking we speak to a former colonies of the u.k. pm david cameron wants fracking could mean earthquakes in england and the headline is a porch a debate about the new cia chief and who's going to nuclear over ethical investments all this of all coming up today is going underground but first britain's foreign secretary boris johnson after seemingly acquiescing the u.k. minority government leader to raise a maze of bricks it customs union begins a tour today on his itinerary of peru argentina and chile that starts with the last of those alleged washington proxies chile it's infamous leader pinochet was backed by johnson's political hero margaret thatcher when the former dictator was charged with genocide by spanish examining magistrate judge baltasar garzon on pinochet

that a provocateur in britain nicolo my door wins again in venezuela a nation with the world's largest known reserves of oil and gas was now and was it fair we speak to an election monitor joseph hour along the border of the u.k. center for investigative journalism and then associates of wiki leaks and the head of this week's un report on fracking we speak to a former advisor to the u.k. pm david cameron wants fracking could mean earthquakes in england from the headlines a porch a debate about the new cia chief and who's going nuclear over ethical investments all the civil war coming up today's going underground but first britain's foreign secretary boris johnson after seemingly acquiescing the u.k. minority government needed to raise a maze of bricks it customs union begins a tour today on his itinerary are peru argentina and chile that starts with the last of those alleged washington proxies chile it's in from its leader pinochet was backed by johnson's political hero margaret thatcher when the former dictator was charged with genocide by spanish examining magistrate judge potter's our guards on pi

a propaganda in britain nicolo my daughter wins again in venezuela a nation with the world's largest known reserves of oil and gas what now and was it fair we speak to an election monitor joseph carol on the board of the u.k. center for investigative journalism and an associate of wiki leaks and the head of this week's un report on fracking we speak to a former advisor to the u.k. pm david cameron wants fracking could mean earthquakes in england from the headlines a porch of debates about the new cia chief and who's going nuclear over ethical investments all the support coming out today is going underground but first britain's foreign secretary boris johnson after seemingly acquiescing the u.k. minority government needed to raise a maze of bricks it customs union begins a tour today on his itinerary peru argentina and chile that starts with the last of those alleged washington proxies chile it's in from its leader pinochet was backed by johnson's political hero margaret thatcher when the former dictator was charged with genocide by spanish examining magistrate judge baltasar garzon on pinochet does

despite having one of the world's largest oil reserves, venezuela is in the midst of an economic crisisg the nhs and technology companies to use artificial intelligence to transform the diagnosis of cancer and other diseases. in a speech in cheshire this lunchtime the prime minister said computer algorithms can prevent thousands of cancer deaths in the coming decades. 0ur health editor hugh pym is here with me now. how significant could this technology be for the nhs? extremely significant and in a sense what the prime minister is doing is just reflecting what is happening a nyway just reflecting what is happening anyway in partnerships between the nhs, between hospitals, between universities, between research institutes. there was one announced just earlier today between uch, a big london trust and the alan turing institute, which is a big data analysis centre bringing all of this together, so how could it help patients? there are various different applications —— uclh. there are experiments going on with artificial intelligence, that is computer—driven analysis replacing human analysi